+0  
 
0
131
1
avatar+47 

1. Joseph borrows $10000 from his sister Katie at an annual interest rate of 10%. If the interest compounded twice a year, how much does he owe after 12 months? Answer in dollars.

 

2. How many multiples of 9 are between 100,000 and 100,185

 Jun 2, 2021
 #1
avatar+35061 
+1

Each compounding PERIOD is 6 months      2 per year

   interest per period in decimal form is   .10/2 = .05

    12 months is two periods

        10 000 ( 1 + .05)2 = amount owed after 1 year = __________  dollars

 Jun 2, 2021

44 Online Users

avatar